NET WORTH: Unknown
SOURCE OF WEALTH: Magnetar Capital
FUNDING AREAS: Human Services, Arts & Culture, Education & Youth
OVERVIEW: Alec Litowitz and his wife Jennifer move their philanthropy through the Litowitz Family Foundation, which gave away around $1.3 million in a recent year. The couple’s giving through their foundation touches a handful of outfits annually, mainly in the Chicago area.
BACKGROUND: Alec Litowitz graduated from MIT with a B.S. in mathematics and anthropology. He went on to receive a JD and an MBA from University of Chicago. Litowitz began his financial services career in corporate finance at JP Morgan. He also worked at Citadel Investment Group, where he was global head of equities. Litowitz went on to found Magnetar Capital, where he’s CEO.
HUMAN SERVICES: Litowitz chairs the board of Dare2tri, a Chicago area nonprofit whose goal is to “positively impact the lives of athletes with physical disabilities and visual impairments by developing their skills in paratriathlon, while inspiring the community at large.” Litowitz has a passion for competitive sports and discovered Dare2tri after his son, who is also a triathlete, met a swimmer with a disability. The foundation’s largest sums of late have gone to Dare2tri.
ARTS & CULTURE: Jennifer Litowitz sits on the board of Writers Theater, which the couple supports. Other grantees have included The Chicago Botanic Garden and Joffrey Ballet.
EDUCATION & YOUTH: Litowitz has supported his school, University of Chicago. The Magnetar Capital UChicago Financial Education Initiative aims to financially empower “students through high-quality materials, evidence-based approaches, teacher community, and scholarly expertise.” The initiative was launched in 2016 and will oversee and expand Magnetar Academy, a “comprehensive financial education course for Chicagoland high school students.” The couple has also supported places like Young Women’s Leadership Charter School.
LOOKING FORWARD: For now, expect the Litowitz family’s giving to remain laser-focused on their local community. Perhaps Litowitz will deepen his interest in education in Chicago.
The Litowitz Family Foundation does not provide a clear avenue of contact but below is an address:
Litowitz Family Foundation
1001 Green Bay Road, Suite 317
Winnetka, IL 60093